China Manufacturing Montly Recap

December 30 – China's crude steel output is projected to reach 680 million tons this year, up from last year's 626.65 million tons, according to the National Development and Reform Commission.

December 30 – China's textile industry output jumped 27.5% year on year to ¥4.95 trillion between January and November, and the industry had 35,900 textile makers (each posting at least ¥20 million in annual revenues) as of the end of November 2011, according to the National Development and Reform Commission. Revenues from major retailers of garments, shoes, caps and knitted goods were up 23.9% from a year earlier to ¥700.5 billion between January and November, according to the National Bureau of Statistics.

December 28 – China's top 10 steelmakers were responsible for 48.9% of total industry output in the first 10 months of 2011, up 7.3 percentage points from the end of 2008, National Development and Reform Commission director Zhang Ping said, adding that China needs 2.2 times the world average of energy input to produce one unit of GDP, and its reliance on imported oil and iron ore has exceeded 50%.

December 19 – China's central government-run companies posted ¥18.4 trillion in revenues and ¥831.79 billion in gross profits between January and November 2011, up 22.6% and 3.6% respectively from the same period a year ago, the State-Owned Assets Supervision and Administration Commission said. Revenues and profits from offshore operations added up to ¥3.4 trillion and ¥128 billion respectively during the period, up 30.7% and 28% year on year.

December 19 – China's annual revenue from equipment for aeronautics, satellite, rapid transit and marine engineering are expected to reach ¥6 trillion representing 20% of total equipment sales revenue by the end of 2015, according to a five-year plan for the industry.

December 9 – China's industrial output expanded 12.4% in November from a year ago, with output from state-owned industrial companies up 7.8% and output from foreign industrial companies up 8.4%, according to the National Bureau of Statistics.

December 8 – China will eliminate 75 million tons of iron smelting capacities and 40 million tons of steel smelting capacities between 2011 and 2015, the Ministry of Industry and Information Technology said.

December 8 – China will allow foreign investment in its steel industry to increase the strength of domestic mills, the Ministry of Industry and Information Technology said. China should have the courage to cooperate with competitive foreign companies for large, mutually beneficial projects, the ministry added.

December 1 – China's industrial companies posted ¥68.18 trillion in revenues and ¥4.12 trillion in gross profits in the first 10 months, up 29.1% and 25.3% respectively from the same period a year ago, according to the National Bureau of Statistics. Profits reaped by state-owned firms were up 16.6% year on year to ¥1.25 trillion and foreign-funded firms' combined profit rose 11.6% year on year to ¥1.07 trillion. The figures were based on companies reporting at least ¥20 million in yearly revenues.

December 1 – China's yearly cement output is expected to grow 3.3% to 2.2 billion tons and eliminate 250 million tons of inefficient capacity by the end of 2015, according to a five-year plan by the Ministry of Industry and Information Technology. The top 10 cement makers will be responsible for 35% of total output by the end of 2015, the plan reveals.

December 1 – More than 20.2% of Chinese electronics makers, or 3,017 companies in total, lost money during the first 10 months, according to the Ministry of Industry and Information Technology.

$1 = ¥6.32

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